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This Simple Strategy Could Make You a Fortune in the Gold Marketprice action of Gold Spot (XAU/USD) in relation to the trendlines and patterns indicated. Chart Analysis 1. Weekly Flag Trendline: - The first chart shows a trendline forming a "flag" pattern on a higher time frame (possibly weekly or daily). This flag appears to be a bullish continuation pattern, indicating that after the consolidation within the flag, the price might continue in the direction of the prior trend, which seems to be up. 2. Price Action Inside the Flag: - Within the flag, there is a period of consolidation marked by the parallel trendlines. The price has been respecting these lines, creating higher lows and lower highs, indicating indecision or preparation for a breakout. 3. Potential Breakout Zones: - Key breakout zones are marked by the upper resistance of the flag pattern around the 2,530 level and the lower support trendline of the flag around the 2,470 level. A breakout above the upper resistance could signal a continuation of the prior uptrend, while a break below the lower support could indicate a reversal or deeper pullback. 4. Smaller Patterns: - On the second chart (1-hour time frame), there's a more detailed view of recent price action with a potential bearish flag or pennant forming, suggesting a temporary pullback or consolidation within the larger flag. This smaller pattern appears to be within a trading range bounded by the horizontal support and resistance levels. 5. Key Support and Resistance Levels: - The charts show horizontal support around the 2,433.301 level, which aligns with a historical low that could serve as a significant support level. Similarly, the resistance level is around 2,530, where the price has repeatedly failed to break above. 6. Current Market Context: - The price is currently hovering around 2,497, near the middle of the trading range, suggesting indecision. This midpoint could be a neutral zone where the price could move in either direction based on upcoming market momentum or news. Trading Strategy and Considerations - Entry Points: - If considering a bullish scenario, a long entry could be planned near the lower support line of the flag, around 2,470, with a stop loss slightly below the flag's support to manage risk. A breakout above the 2,530 resistance could also provide a good entry point for a continuation of the uptrend. - For a bearish scenario, a short entry could be considered if the price breaks below the 2,470 support level, confirming a breakdown from the flag pattern. - Risk Management: - The proximity of the price to both upper and lower boundaries of the flag pattern provides clear levels for stop placement. This helps in managing risk effectively, keeping losses contained if the trade goes against the initial bias. - Monitoring Price Action: - Watch for potential breakouts from the smaller patterns within the flag, as these could provide early signals of the larger move's direction. It would also be essential to keep an eye on volume changes, as increased volume could confirm the validity of a breakout or breakdown. By aligning your trades with these patterns and key levels, you can take advantage of the potential setups provided by the price action within these consolidating formations. Ensure to adapt to new market conditions and stay disciplined in executing your trading plan.
OANDA:XAUUSDEducation
by Adlercon333
2
Natco Pharma Breakout Retest! 🚀 Hey Dosto! 👋 🔍 Chart Analysis: Natco Pharma - CMP 980 📊 🚀 Reasons for Trade: Strong Uptrend Cup and Handle Breakout Retest 💹 Trade Details: CMP: 980 SL: 918 Targets: 1090, 1188 🌟 Why Natco Pharma? After a cup and handle breakout, Natco Pharma has retraced for a retest, indicating potential upward momentum. 💡 Trade Strategy: 📈 Enter after retest confirmation. ⚖️ Set SL at 918. 🎯 Targets at 1050, 1110, and 1200. 📈 Disclaimer: I'm not a SEBI registered analyst. Trade at your own discretion. 🚀 Excited about this trade? Share your thoughts below! Let's discuss! 🤝💬 #NatcoPharma #StockMarket #TradeAlert #TechnicalAnalysis #BreakoutRetest 📈✨
NSE:NATCOPHARM
by satyam15
XAU/USD Technical Analysis: Ascending Channel with Multi-TouchThese charts depict an evolving market structure for XAU/USD (Gold Spot) and highlight significant zones and patterns across multiple timeframes. 1. Key Patterns and Channels: Ascending Channel: A dominant ascending channel is visible on multiple timeframes. This is a classic continuation pattern, suggesting that as long as price remains within this channel, the prevailing trend (upward) is intact. The channel's lower boundary has been tested multiple times, reinforcing its validity as a support level. Weekly Flag: The “Weekly Flag” mentioned is a larger pattern that might suggest a continuation of a broader trend. Flags typically form after strong moves and consolidate before a potential continuation in the direction of the initial move. The flag is being “correctively broken,” which hints at a potential retest of the lower boundary or a reversal if the flag fails to hold. 2. Liquidity Zones (LQZ): 15M LQZ / Reversal Zone: This zone is near the current price and is a high-probability area for a reversal or significant price reaction. The price reacting to this level could determine the short-term direction. 1HR and 4HR LQZ: These zones are lower and represent potential targets or areas where the price might find support if it breaks down from the current structure. Daily and Weekly LQZ: These are even broader zones of interest. Their distance from the current price indicates that if the price moves toward these levels, a significant trend change or a large corrective phase could be unfolding. 3. Potential Scenarios: Bullish Continuation: If the price holds within the ascending channel and breaks above the “corrective break” in the weekly flag, this could lead to a continuation of the upward move, targeting new highs. Bearish Reversal: If the price breaks below the ascending channel and breaches the 15M LQZ, it might move towards the lower liquidity zones (1HR, 4HR), indicating a deeper correction or a trend reversal. Multi-Touch Confirmation and Advanced Pattern Recognition: Multi-Touch Confirmation : The chart shows multiple touches on the trendlines, especially on the ascending channel's lower boundary. These touches reinforce the trendline's validity and increase the likelihood of a significant move upon the next touch​. ADVANCED Pattern RECON: The "corrective break" within the weekly flag and the smaller internal channels within the larger ascending channel provide a "pattern within a pattern" scenario, which often precedes significant moves​. Conclusion: Monitor the 15M LQZ closely as it's a crucial area that could determine the short-term direction of the market. If price reacts strongly at this level, consider the implications for either a continuation (bullish scenario) or a breakdown (bearish scenario).
OANDA:XAUUSD
by Adlercon333
2
A1+ setup, lets catch 100pips tomorrow while risking just 10pipsSwitch to a lower timeframe (M15/M39) to properly see the change of character with the breaker block that took the low. Price is now trying to push up to the order block which it should reject from then push down to give us our 100 pips setup which is highly probable considering this week is CPI !. The stop is just 10 pips, look for entries before or during London session tomorrow. Apply proper risk and money management !.
Short
by LaBOSS_FX
5
Be careful with BTC here..Even tho BTC is up 10% today I would'nt get my hopes all the way up just yet. Something interesting is happening here.. History shows: every time 20 & 50MA line crossed the 200MA line to the downside in the past, BTC went into a full on bear market. 20 & 50 MA is still just above 200MA, but a cross to the downside could give confirmation we need for a bearish trend. A good short opportunity in my opinion is therefore a trade with entry at the 200 day mooving average. Stop loss can be placed above 20 & 50 MA or above the decending channel top if you want to give the market more room.. It's a trade worth taking even tho we could break the ressistance and go into price discovery aswell. A short term target would be a test of the support we had at 56 500 and a intra- day target would be at the low end of the channel at about 50-52k. Make sure to follow me on X for more weekly updates: @PuppyNakamoto Our wolf pack are hunting for profits, one block at a time..🐺 BITSTAMP:BTCUSD COINBASE:BTCUSD BINANCE:BTCUSD KRAKEN:BTCUSD BITFINEX:BTCUSD
COINBASE:BTCUSDShort
by WOLFofBlockStreet
EURNZD Trade PlanEURNZD has completed a W FCP pattern but did not reverse. It is now at a structure resistance level which can make it fall. Wait for sell confirmation. If that comes this can be a good short opportunity. If the price breaks and confirms the previous high, we will go long based on the confirmation. If you found this interesting please consider supporting this analysis by liking, commenting, and sharing with friends, colleagues, traders, and trading communities. Thanks👍🙂
by vikinsa
2
Is Gold About to Surge or Drop? Handle XAUUSD's Next Big MoveChart 1: 15-Minute Timeframe Key Observations: Trendlines: The chart displays an ascending channel pattern. The upper and lower trendlines are drawn to capture the price action within this channel. Resistance Zone: There is a marked resistance zone around 2470-2480, where the price has faced rejection multiple times. Support Levels: Immediate Support: The lower trendline of the ascending channel acts as immediate support. LQZ/Reversal Point: At 2429.19, there is a significant level indicated, likely a liquidity zone or a potential reversal point from a higher timeframe. Chart 2: 1-Hour Timeframe Key Observations: Higher High (HH): The chart indicates a higher high formation at the recent peak, suggesting an uptrend. Possible Scenarios: Bullish Scenario: If the price breaks above the resistance zone around 2480 and holds, it could target higher levels around 2520 and potentially 2550. Bearish Scenario: If the price fails to break the resistance and instead breaks down from the ascending channel, it could move towards the LQZ/Reversal points at 2429.19 (1-hour) and 2391.39 (4-hour). Support Levels: 1-Hour LQZ/Reversal Point: At 2429.19, providing a potential support zone for a bullish reversal. 4-Hour LQZ/Reversal Point: At 2391.39, indicating a deeper support level from the 4-hour timeframe. Immediate Support: The lower trendline of the current ascending channel. Summary: Immediate Focus: Watch the price action around the resistance zone (2470-2480) for potential breakout or rejection. Bullish Confirmation: A breakout and retest above 2480 could signal a continuation towards higher targets. Bearish Confirmation: A breakdown from the ascending channel and below the immediate support levels could trigger a move towards the lower LQZ/Reversal points. Key Levels to Watch: Resistance: 2470-2480 Support: 2429.19 (1-hour LQZ), 2391.39 (4-hour LQZ)
OANDA:XAUUSD
by Adlercon333
Gold Hits Record Highs! Skyrocket Further or Sharp Reversal?4-Hour Time Frame Analysis: Higher Highs (HH) and Higher Lows (HL): The chart displays a clear upward trend with higher highs and higher lows. This indicates a bullish market structure. Ascending Channel: The price is moving within an ascending channel, showing a steady increase in value. Key Levels: 1-Hour LQZ / Reversal: 2429.940 4-Hour LQZ / Reversal Point: 2391.394 Potential Take Profit (TP) Levels: TP 1: 2319.385 TP 2: 2288.085 TP 3: 2267.832 Current Price Action: The price has reached the upper boundary of the ascending channel, suggesting a potential reversal or breakout. Traders should watch for confirmation before taking action. 1-Hour Time Frame Analysis: Higher High (HH): Similar to the 4-hour chart, the 1-hour chart also shows a higher high, indicating a bullish trend continuation. Ascending Channel: The price is respecting the ascending channel, reinforcing the bullish sentiment. Key Levels: 1-Hour LQZ / Reversal: 2429.940 4-Hour LQZ / Reversal Point: 2391.394 Current Price Action: The price is at the top of the ascending channel. Traders should look for signs of a reversal or a breakout above this level to gauge further price movements. 15-Minute Time Frame Analysis: Ascending Channel: The 15-minute chart shows a detailed view of the ascending channel with the price closely following this structure. Key Levels: 1-Hour LQZ / Reversal: 2429.940 4-Hour LQZ / Reversal Point: 2391.394 Current Price Action: The price is currently at the top of the channel, suggesting a potential short-term reversal or continuation depending on the breakout direction. Summary: Bullish Trend: All three time frames show a clear bullish trend with higher highs and higher lows. Ascending Channel: The price is moving within an ascending channel on all time frames, which supports the bullish outlook. Key Reversal Zones: Pay attention to the 1-hour and 4-hour LQZ / Reversal points at 2429.940 and 2391.394 respectively. Potential Reversal: The price is currently at the upper boundary of the ascending channel on all time frames. This indicates a potential reversal if the price fails to break out. Traders should wait for confirmation before entering trades..
OANDA:XAUUSD
by Adlercon333
29